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Dorsey chooses Trezor over Ledger

In one tweet Released on March 7, Dorsey – who has spoken out in recent weeks on the Bitcoin benefits – confirmed that he now owns a Trezor wallet, which he bought with the Cash app from his other company, Square.

Dorsey paid the princely sum of 0.066 BTC for the device, suggesting that the purchase included both Trezor's latest Model T purse and the Cryptosteel backup tool.

"You have made the right decision to secure your money," Trezor CTO Pavel Rusnack replied. "(Trezor) is one of the steps to individual sovereignty!"

When asked why he chose Trezor over other well-known hardware wallets like Ledger, Dorsey provided a rare explanation for his actions – he said he favored Trezor's fully open source infrastructure.

Ledger later defended his own product, arguing that open source did not provide a complete security solution.

"…[T]Thank you for bringing attention to Bitcoin! The security model of hardware is quite complex and offering open source firmware is not a miracle weapon.

Bitcoin Advocacy meets public arena

Apart from debates on hardware wallet protocols, commentators on the Bitcoin community praised Dorsey's decision on the whole, giving Bitcoin a lot of attention.

As Bitcoinist In February, the tech mogul saw Bitcoin's implementation of Lightning Network as a payment protocol. In particular, Dorsey joined the transaction relay Lightning Torch, which is to test and strengthen the awareness of the network. Then it was announced that Lightning micropayments would come directly to Square.

"Bitcoin is resilient. Bitcoin is in principle. Bitcoin is ideal on the internet. And it's a great brand, "he concluded.

Little is known about the scope of Dorsey's investment in Bitcoin. This is probably his only cryptocurrency transaction given the comments that he would not consider new coins in the future.

What do you think about Jack Dorsey buying a trezor? Let us know in the comments!